Newmark Capital Markets has announced the $12 million sale of the AT&T net lease office building in Plantation, Florida to Fifteen Group Capital LLC. The 130,549-square-foot, single-tenant building has been a headquarter location for a subsidiary of AT&T, Bellsouth Telecommunications Inc., since the building was constructed in 1985.
Newmark Executive Managing Director Michael Lapointe and Managing Director Michael Lohmann represented the owner, FT-Florida Property LLC, along with Brian Bartlett and John Richardson from Newmark Phoenix Realty Group. Location, accessibility and the potential for future redevelopment were three key factors that influenced the buyer’s purchase decision.
“Acquiring a 14AC site with in-place income in one of the most sought-after submarkets in Broward County was very attractive to the buyer, who has plans to reposition the property in the future,” said Lohmann.
Situated on 13.72 acres at 8601 West Sunrise Boulevard, the two-story office building is based in the heart of a dense commercial corridor. The property also benefits from a wide range of retail options, including several restaurants, medical services, a Walmart and a Publix, and accessibility to major highways.
About Newmark Capital Markets
Newmark Capital Markets, operated by Newmark Group, Inc., is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, our 16,000 professionals operate from approximately 430 offices in established and emerging property markets on six continents.
We provide access to a wide range of services, including asset sales, sale leasebacks, mortgage and entity-level financing, equity raising, underwriting and due diligence. The transactions we broker involve vacant land, new real estate developments and existing buildings. We specialize in arranging financing for most types of value-added commercial real estate, including land, condominium conversions, subdivisions, office, retail, industrial, multifamily, student housing, hotels, data center, healthcare, self-storage and special use. For further information, visit www.ngkf.com/capitalmarkets.
Newmark Group, Inc., which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol “BGCP”. BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol “BGCA”.
Discussion of Forward-Looking Statements about Newmark Group
Statements in this document regarding Newmark Group that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark Group undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark Group’s and BGC’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.